Wednesday, March 28, 2012

North Dakota, Mining Industry Lead Growth for Personal Income Gains in 2011

The Bureau of Economic Analysis released its "State Personal Income 2011" report today, and here are some highlights:

1. State personal income rose 5.1% in 2011 following a 3.7% increase in 2010, a -1.7% decrease in 2009 and a 3.9% gain in 2008.  

2. North Dakota led the country with the highest gain in state income for 2011 (8.1%), the largest increase in per-capita state income (6.7%), and the highest gain in personal income during the last quarter of 2011 (1.5%). 

3. Mining had the highest earnings growth rate by industry in 2011 at 25.4%, led by a 70% increase in mining income for North Dakota, a 41% increase in Oklahoma, and a 38% increase in Pennsylvania.

MP: More evidence that increased drilling for oil and natural gas in states like North Dakota, Oklahoma and Pennsylvania is not only creating thousands of shovel-ready jobs, but thousands of high-paying jobs that are boosting personal income for workers in the mining industry in those states. 

1 Comments:

At 3/28/2012 2:51 PM, Blogger Buddy R Pacifico said...

Where are people over 50 years old finding jobs?

The Williston area of North Dakota, where +50s make up one quarter of new hires.

 

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